November 2, 2016 / 11:27 AM / a year ago

Colombia finance minister says interest rates could fall soon

LONDON, Nov 2 (Reuters) - Colombia’s interest rates could start to fall in the near future, the country’s finance minister and central bank board member, Mauricio Cardenas, said on Wednesday.

Speaking at a Colombia Business Forum event in London Cardenas said new inflation figures due in the coming days would show it easing back and open the door to a cut in the country’s 7.75 percent interest rates.

“This Saturday we will know the (inflation) figure for the month of October, I’m very optimistic that we will be below 7 percent.”

“The central bank is going to project an inflation rate of 6.1 percent by the end of the year. In the near future interest rates could fall again, that would be useful for growth especially for domestic consumption and investment,” he said

Reporting by Helen Reid, editing by Marc Jones

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